Despite the political and economic uncertainties that swirl around us these days, one thing is becoming increasingly clear. Crypto is here to stay.
Digital assets are not just trends – they’re transforming how we think about wealth and investment.
The world’s newest and fastest-growing asset class isn’t going away. When we talk about abstractions like “the economy” or “financial markets,” we’re talking about crypto, too.
And I don’t just mean us here at BitIRA – I mean everyone.
Current events shaping the crypto market
Bitcoin has come a long way since its inception in 2009. Once considered a hacker’s piece of performance art, then a fringe asset suitable only for amateurs, bitcoin and ether are now recognized as legitimate stores of value by global financial institutions. For once, though, the big boys are playing catch-up – this is one asset class that individual investors discovered first.
So far this year, bitcoin has traded between $55,000 and $70,000 after reaching an all-time high near $74,000 back in March. This significant growth underscores bitcoin’s resilience in the face of economic uncertainty as well as its massive growth potential.
Cryptocurrency is first and foremost a populist asset (by the people, for the people). A lot like our federal government is supposed to be! Since it’s a presidential election year, that means a lot of discussion of candidates’ political stances on crypto.
So how’s that going?
Crypto in the current political climate
While the political landscape can influence market sentiments, it’s important to remember that bitcoin’s value is driven by global economic factors.
James Davies, co-founder at Crypto Valley Exchange, points out that the market for bitcoin isn’t centered on the U.S. Even with growing partisan sentiment and speculation about the potential impact of a Kamala Harris or a second Donald Trump presidency, the cryptocurrency market has shown remarkable stability.
Davies reminds us that, during the Biden administration, cryptocurrency exchanges and projects regularly faced regulatory challenges – and remained one of the top-performing assets in the world. This resilience demonstrates that established cryptocurrencies with healthy ecosystems and widespread adoption like bitcoin, ether and XRP can not just survive but thrive in less-than-favorable political climates.
Left or right, Davies points out, haven’t really mattered for crypto:
“The truth is that the market is robust, not centered on the U.S., and hasn’t reacted negatively to major events from either side.”
Steven Lubka, head of private clients and family offices at a boutique investment management firm, agrees with Davies’s premise. He goes a little farther, though:
“Do I think we’ll be in the six figures by 2025? Almost certainly. Do I think we’ll be in the six figures regardless of who wins? Almost certainly. bitcoin has always been an investment that is rooted more in the fiscal and monetary profile of countries, sovereigns and the United States. Neither candidate changes that.”
Having said all that, it’s smart to take a long-term view. As we approach the November election, let’s keep our eyes on the horizon, on the long-term potential of cryptocurrencies.
Short-term fluctuations are just weather – it comes and goes.
We’re more interested in the gradual shifts that operate like plate tectonics, slowly and inevitably reshaping the face of the planet…
Institutional adoption, market maturity and crypto’s future
One of the key factors contributing to crypto’s growth is its increasing institutional adoption. The introduction of crypto-specific exchange-traded funds (ETFs) this year gave many institutions what they needed.
They wanted access to crypto’s growth potential – in a medium they understood. Turns out you can make a lot of money by slapping a ticker symbol and a management fee on a pot of bitcoin! Based on my back-of-the-envelope estimates, crypto ETF sellers will generate about $100 million in revenue this year.
Their revenue comes out of fund owners’ pockets – to the tune of $274,000 every single day.
I’m not going to argue they aren’t earning that revenue. For some types of investors, it’s clearly worth $274,000 a day to be able to open a brokerage app on their smartphones and buy or sell crypto while waiting in line at Chipotle. They don’t seem to realize they could be doing the same thing by just opening a different app like MyBitIRA…
Regardless, the launch of crypto ETFs and the huge flow of new capital into the market further legitimized the entire sector. This institutionalization provides a new perception of the crypto market. I would argue that the level of stability and credibility previously existed in the market, but that wasn’t recognized by the wider public.
Institutions, unlike individuals, tend to move slowly. They don’t make snap decisions and can’t leap on opportunities like you and I can. They have committees and approval processes and impact statements, lots of boxes to check and paperwork to fill out, before they can change direction.
Which means that it’s not too late for smaller, more nimble actors to get in on crypto’s growth potential ahead of them…
Cut to the head of the crypto line
Given cryptocurrency’s impressive track record and incredible growth potential, diversifying your retirement savings with cryptocurrency could be the difference between spending your golden years in luxury or spending them in a family member’s basement.
The potential for growth is there! See for example WisdomTree’s chart of asset class performance, where bitcoin ranks #1 in 10 of 12 years. There are many versions of this same chart – the primary difference is whether or not crypto is included.
The decision about whether or not to diversify with cryptocurrencies is a strategic decision. One that has long term implications for your financial future. That’s not a decision anyone can make for you – nor should they!
If you’re sure that this is a smart strategic move for you, I’ll tell you why BitIRA is your best partner:
User-friendly: You can get started with My BitIRA in less than 10 minutes – no computer science degree required!
Security: We use state-of-the-art security measures to protect your investments, including multi-signature authorization (and no private keys or dedicated devices). Furthermore, your assets held in storage are protected by multi-million dollar end-to-end insurance against any type of theft, loss, destruction or damage.
Expert guidance: Personalized support from experienced digital asset professionals can help you navigate the complexities of cryptocurrencies.
Options: We tried to strike the right balance between “too many” and “not enough”:.. Choose from 20 of the top cryptocurrencies, or just stick to bitcoin – it’s up to you.
Tax advantages: Your bitcoin IRA offers significant tax benefits, including tax-deferred growth or tax-free withdrawals, depending on your account type. (If you aren’t sure which sort of retirement account is right for you, we can help you fill in the blanks.)
Are you ready?
As the world of finance continues to evolve, cryptocurrencies are proving to be valuable additions to any diversified retirement savings strategy. With its impressive growth potential and increasing institutional adoption, crypto is well-positioned to thrive over the long term. BitIRA can help you diversify your savings with cryptocurrency securely and efficiently – no matter what political or economic challenges lie ahead.
Whether we have a Harris administration or another Trump administration, I believe that the crypto market will continue to thrive. I also hope Davies is right and bitcoin breaks six figures next year – that’ll put me a whole lot closer to my personal retirement goal…
I don’t want you to miss out on this opportunity to get in ahead of the institutional investors. How often do we have access to something they don’t? An asset with a solid track record of spectacular growth?
How long before institutions become the major players in the crypto market?
Make sure that, wherever they’re going, you get there first. Open your BitIRA account right now. Or call 1-800-299-1567 for personal assistance from our digital asset specialists. Either way, you can start investing in your future with confidence.
Because you don’t want to be someone who didn’t own bitcoin when its price breaks $100,000 for the first time…
